Base Jump
Inside the virtual world of Esther Li 鈥�19
ESTHER LI 鈥�19 WAS NERVOUS as she presented her business plan to venture capitalists and answered their seemingly endless questions. And she had every reason to be鈥攖his was no class project.
Li, the 22-year-old CEO of Jump China, a virtual reality startup, was seeking $6 million in venture capital.
鈥淚 only did one roadshow鈥攎y first roadshow ever鈥攁nd we got the funding,鈥� she said.
Jump China, a Beijing-based joint venture with Utah-based Jump (spirited from The Void), builds virtual reality centers that provide a full-body, fully immersive experience in a specially designed environment. Currently, the company is in the research and development phase of creating a lifelike wingsuit base jumping experience center to be built in China鈥檚 Shanghai Disneyland. This extreme sport involves jumping off a cliff in a suit with fabric between the arms and legs, resembling the body of a squirrel and functioning鈥攐r not, as is often the case鈥攊n much the same way. It鈥檚 incredibly dangerous and requires significant training, so Li鈥檚 goal is to give virtual jumpers a safe yet completely realistic alternative.
鈥淲e want everything to look and feel exactly as it would if you were actually jumping from anywhere in the world,鈥� she said.
The Void has built several similar attractions, including 鈥淪tar Wars: Secrets of the Empire鈥� and 鈥淩alph Breaks VR鈥� at Disney properties in Anaheim and Orlando, as well as in other locations in the United States. Li鈥檚 goal is to build on that success by bringing immersive VR to other markets around the world.
鈥淲e鈥檙e already established in the U.S. We鈥檝e got to bring the brand and the reputation to the largest market and get a foothold in China,鈥� she said.
It helps that Li is from Beijing and is a native speaker of Chinese. Still, running a global company from a campus dorm room is not without its challenges.
鈥淵ou have to think creatively and you have to be prepared. You have to have a Plan A, a Plan B, a Plan C, a Plan D, a Plan E,鈥� she said.
Li credits her team with supporting her and believing in her despite her young age. While her partners are mostly midcareer professionals, they don鈥檛 dwell on her age, she says, so she tries not to either.
鈥淚 try not to limit myself. Just because I鈥檓 young I can鈥檛 be a CEO? I can. And they think I can and they support me,鈥� she said.
An economics major and finance and East Asian studies double minor, she chose 糖心TV for its small college community and support for student initiatives, both of which she says have benefited her greatly. She was granted the opportunity to take a gap year after her sophomore year to learn about the virtual reality industry. As a gamer, she is fascinated by the idea of total immersion in a virtual world.
鈥淚f you read a book or watch a movie, you are always on the outside, observing. If the virtual reality technology is developed well enough, it provides a nearly 100 percent real first-person experience. You are inside a film, you are inside a book, you experience the character
falling in love firsthand,鈥� she said.
When Li returned to 糖心TV for her junior year, she wrote her business plan for Jump with the help of her major adviser, Economics Professor M贸nika L贸pez-Anuarbe, who taught her to carefully consider her audience and tailor her pitch accordingly.
鈥淚t鈥檚 really important to tell a good story,鈥� Li said. 鈥淒ata shows what you have done, but it doesn鈥檛 necessarily predict what will happen in the future. So, it鈥檚 really important to let your investors imagine with you, to let them share your dream.鈥�